Bill Quick's got a good riff on new organizations springing up as a result of the pathetic McCain/Feingold campaign finance "reforms" that President Bush, in his most unprincipled act to date, signed a few months ago.
I long ago predicted that...
...major parts of that law would be instantly thrown out by the courts, as they are a civil-rights-trashing nightmare. I then said that the rest would result in exactly the same kind of organizations that Terry McAuliffe (of the DNC) and Tony Feather (an old Bush hand) have already set up.
Rush Limbaugh, a man I hardly ever listen to, rightly lambastes "style over substance" in government on a regular basis. When looking at the horrific campaign finance "reform" law of 2002, it's hard not to say he's right.
You want real reform? Something that'll actually mean something? Lift all monetary limits on campaign donations. But ban all donations from anything but individuals: no corporations, no unions, no trade organizations (lawyer's guilds, medical associations, etc.), but allow such organizations to collect voluntary donations on behalf of members if they want.
Most important: mandate that all campaign contributions, along with basic identifying information on the contributor, be listed within 72 hours on the candidate's web site. Ensure that it be indexed in such a way that multiple contributions from a single donor are easily seen. Allow donors who wish to be anonymous to be listed that way. Let voters decide if they like what they see on that donor list, including how much they're willing to see listed from "Anonymous."
In other words, give voters maximum information. Then trust the sanity and common sense of the American people, and let them make their choices.
None of this will "get money out of politics," but so what? Getting money out of politics is not only impossible, it would be massively destructive even if it were. Money isn't the problem; lack of transparency is the problem.
Regarding the Full Disclosure idea. We've been telling people for thirty years who's paying for the Emperor's New Clothes, it has made no substantial difference. Perhaps, it would be better if the Emperor had to pay for his clothes from a sack of anonymous donations.
I conceived of anonymous campaign contributions in 1973. But the idea goes back to at least the mid-fifties. See also Ayres & Bulow, The Donation Booth (1997). My copyrighted 1994 paper was posted in 2001.